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Q.Can individually owned elements of a unit or lot (e.g. a room) be sold to, or exchanged with, another homeowner?
A.Generally No. The boundaries of units and lots within a condominium project, or planned development, appear on map or plan filed with the County Recorder's Office. These boundaries cannot be changed, sold, or exchanged without amending the recorded map or plan. The amendment must be prepared by a licensed surveyor, and if the original map or plan was recorded separately from the CC&Rs, the amendment must be reviewed by a governmental agency, signed by all of the homeowners and all of the lenders who have an interest in the project, and then recorded. The signature requirement is especially difficult to fulfill because it requires the cooperation of every lender that has a mortgage on any of the units, or lots, in the complex (including those not directly affected by the amendment). Needless to say, lenders are generally not anxious to cooperate in this process.
If the map or plan to be amended is recorded only as an exhibit to the CC&Rs, the amendment will only need to be approved by the percentage of homeowners required by the CC&Rs, and the lenders with mortgages on the directly affected units or lots. The approval of other lenders, and of a governmental agency, is required only if the CC&Rs so state.
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